She replaces Charles Morrison, who has been promoted to president of Fidelity’s asset management group.
Ms. Prior will oversee Fidelity’s $750 billion global fixed-income division, which includes the company’s bond and money market divisions. She will report to Mr. Morrison.
Ms. Prior was president of money markets and short-duration bonds at Fidelity Investments. She will continue to manage the money markets group, while Robert Brown, president of the bond division, will assume oversight of short-duration bonds.